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Quiz for B2B: Regulation O

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B2B: Reg O
B2B: Regulation O

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Question 1 of 10

1. Question
1. True or False. A bank director has 26% ownership interest in a lumber company. The lumber company applies for a loan. The bank should treat the lumber company as a related interest under Reg O.
a. True
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b. False
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Question 2 of 10

2. Question
1. Fill in the blank: In order to have control, one of the prongs is that the individual has a ___ percent or more of any class of voting securities of the company or bank.
a. 15%
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b. 20%
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c. 25%
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d. 30%
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Question 3 of 10

3. Question
1. The Board is not required to approve each individual draw on an insider’s line of credit if the Board has approved the line of credit within the last:
a. 6 months
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b. 12 months
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c. 14 months
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d. 16 months
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Question 4 of 10

4. Question
1. In order for a credit card to be excluded as a Regulation O loan, the credit limit may not exceed?
a. $10,000
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b. $15,000
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c. $20,000
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d. $25,000
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Question 5 of 10

5. Question
1. Which prudential regulator does not require that deposit accounts follow the same “substantial similarity” test for insider deposits under Reg. O
a. FDIC
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b. OCC
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c. FRB
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Question 6 of 10

6. Question
1. True or false: A political committee or campaign to elect a person who is also bank insider would not be considered a related interest.
a. True
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b. False
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Question 7 of 10

7. Question
1. Regulation O allows for the payment of inadvertent overdrafts by insiders, if the aggregate overdraft amount does not exceed:
a. $1,000
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b. $2,000
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c. $5,000
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d. $500
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Question 8 of 10

8. Question
1. What method must banks use to keep records of loans to insiders of the member bank’s affiliates?
a. Survey Method
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b. Borrower Inquiry Method
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c. Alternative Record Keeping Methods that are effective in obtaining the required information.
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d. All the above are acceptable
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Question 9 of 10

9. Question
1. Who can be liable for a Regulation O violation:
a. Directors
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b. Bank tellers
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c. Compliance Officers
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d. All the above
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Question 10 of 10

10. Question
1. How long is a bank required to maintain records of a public disclosure:
a. 1 year
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b. 2 years
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c. 3 years
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d. 4 years
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